Lotus Technology (NASDAQ:LOT) Issues Earnings Results

Lotus Technology (NASDAQ:LOT) issued its earnings results on Thursday. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06, FiscalAI reports. The business had revenue of $134.05 million for the quarter, compared to analyst estimates of $139.65 million.

Lotus Technology Trading Up 3.5%

Shares of NASDAQ:LOT opened at $1.19 on Thursday. The firm’s 50 day moving average is $1.03 and its two-hundred day moving average is $1.16. Lotus Technology has a 52 week low of $0.81 and a 52 week high of $2.28. The firm has a market capitalization of $764.09 million, a P/E ratio of -1.65 and a beta of 0.52.

Institutional Trading of Lotus Technology

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd increased its position in Lotus Technology by 21.3% in the 4th quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock valued at $77,000 after acquiring an additional 9,605 shares during the period. Jane Street Group LLC boosted its position in Lotus Technology by 64.1% during the 1st quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after acquiring an additional 6,629 shares during the period. Finally, Bank of America Corp DE boosted its position in Lotus Technology by 178.8% during the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after acquiring an additional 4,848 shares during the period. 63.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Lotus Technology in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Lotus Technology currently has a consensus rating of “Sell”.

Lotus Technology Company Profile

Lotus Technology Inc engages in the design, development, and sale of battery electric lifestyle vehicles worldwide. It also distributes sports cars. The company sells its products under the Lotus brand. Lotus Technology Inc is based in Shanghai, China.